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| HELOC Products; HUD, FHA, and Ginnie News; Unscripted Powell and Trump | ||
| 7/25/2025 10:50 AM | ||
| If you want to see an unscripted moment where politics and the central bank collide, thank Ken Sonner for sending over this clip of President Trump and Fed Chair Powell addressing the press. (Complete with pressure for lower rates, a misstatement of the cost, and with the President taking his hard hat off because “there’s not too much danger.”) Eve...Read More | ||
| Reasonably Resilient After Data-Driven Selling | ||
| 7/24/2025 4:19 PM | ||
| Reasonably Resilient After Data-Driven Selling This morning"s Jobless Claims report was the week"s most relevant economic report apart from the S&P PMI data that came out just over an hour later. As it happened, Claims garnered the only obvious response, pushing yields slightly higher in addition ...Read More | ||
| Mortgage Rates Drift Slightly Higher Again | ||
| 7/24/2025 2:41 PM | ||
| After falling for 5 straight days leading into Tuesday, mortgage rates have now moved slightly higher on each of the past two days. As was the case with the improvement, the bounce back has been exceedingly modest in its pace. In fact, most borrowers will be seeing the same rates today vs last week with only minor changes in upfront costs. Today w...Read More | ||
| Hedging, Correspondent, AI Answer, Subservicing, Processing, Fee Modeling Tools; Classes, Training, and Webinars | ||
| 7/24/2025 10:41 AM | ||
| July 24… While much of the nation swelters, if you live in Utah, it’s Pie and Beer Day. Uh, I mean, Pioneer Day. The average home in Utah now costs $517,000, a 1 percent increase from last year, per this article and very manageable. If this article (showing state-level fraud rankings) is to be believed, Utah has steered clear of a high mortgage sca...Read More | ||
| Some Selling Before and After Jobless Claims | ||
| 7/24/2025 7:47 AM | ||
| Jobless claims data continues to defy a majority of other labor market metrics in showing a remarkable lack of any signs of softening. In fact, the 4 week average is now at a 13 week low. While this isn"t the most highly consequential econ data, it"s one of this week"s only actionable reports. As such, bonds are undergoing a s...Read More | ||
| Broadly Calm Despite Modest Pull-Back | ||
| 7/23/2025 3:55 PM | ||
| Broadly Calm Despite Modest Pull-Back If anything about the present week required investigation and explanation, it was the justification for fairly decent gains right out of the gate. Today"s weakness, by comparison, is more logical. Why? Broader momentum is sideways and volatility should be lower this wee...Read More | ||
| Mortgage Rates Tick Higher, But Just Barely | ||
| 7/23/2025 2:22 PM | ||
| It"s been a pretty good run for mortgage rates since hitting their most recent highs last Tuesday. Each subsequent day saw a modest improvement. That winning streak finally ended today, but just barely. The average top tier 30yr fixed rate was only 0.01% higher compared to yesterday. For all practical purposes, that means that rates have been flat...Read More | ||
| High Prices and Rates Keep Home Sales Near Cycle Lows | ||
| 7/23/2025 10:40 AM | ||
| Two months ago, existing home sales hit a five-month low. Last month’s report showed a minor rebound. This month’s update, released July 23, shows a return to weakness. Sales declined 2.7% in June to a seasonally adjusted annual rate of 3.93 million. That leaves activity just above the recent low and still 25% below long-term norms. Year-over-year...Read More | ||
| Weaker Start After Japan Trade Deal | ||
| 7/23/2025 9:43 AM | ||
| The analytical theme this week has been to observe the market movement and then go scrambling for justification. Such is the nature of a week without any actionable econ data. This morning"s example involves yesterday evening"s announcement of a trade deal with Japan which can generally be credited with boosting stocks and hurting bonds in th...Read More | ||
| Mortgage Apps Eke Out Small Gain Thanks to Purchase Activity | ||
| 7/23/2025 8:01 AM | ||
| Mortgage application activity managed a modest increase last week despite slightly higher rates. The Mortgage Bankers Association’s (MBA) weekly survey showed a 0.8% rise in the seasonally adjusted Composite Index for the week ending July 18, 2025. “Mortgage rates moved higher last week, with the 30-year fixed rate edging up to 6.84 percent, the h...Read More | ||
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